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The chapter provides brief profile of selected ten private banks in Maharashtra region,
a variety of performance management practices implemented by the banks, level of
implementation, evaluation etc. The chapter is based upon secondary data which is
obtained through discussion with managers of all sections and compilation from the
bank records, their websites, and Annual reports of the selected period of study. The
objective of this chapter is to explore and highlight performance management system,
providing supportive information to the primary data and give added inputs for the
findings and conclusions.
The present study is on Private sector banking which is one of the high competitive in
nature. The private sector banks play a vital role in the Indian economy and are
backbone of this vibrant economy. The private sector banks especially the foreign
banks have much influence on the foreign investment in the country. The foreign
banks in the private sector help the Indian companies and the government agencies to
meet out their financial requirements from international capital markets. This service
becomes easier for private bank because of the presence of their head offices/other
branches in important foreign centers. In this way they help a large extent in the
promotion of trade and industry in the country. The private sector banks are always
trying to innovate new products avenues (new schemes, services, etc.) and make the
industries to achieve expertise in their respective fields by offering quality service and
guidance. The private banks in India are growing and serving their customers in all
possible ways.
In order to compete at the market place effectively, private banks have to ensure peak
performance of their employees continuously. The efficiency and effectiveness of
Private Banks services depends directly on how capable its Human Resource is, and
how effectively they are utilized for achieving banks objectives. This Human
Resource helps the private banks to achieve their objectives by properly implementing
the strategies designed by them. So Banks practices performance Management for
their Human resources.
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The Performance Management practices include performance planning, providing
feedback and counseling to employees to improve their performance at workplace the
entire activities are linked to private banks objectives and strategies to achieve these
objectives. This enhances the efficiency and working capability of employees and
leads
to achieve the maximum target and high profitability of the Private Banks. As bank
provides highly advanced services to customers, it became necessary for private banks
to make their employees more efficient at work. This is undertaken by Private Banks
by practicing the Performance management practices.
Performance management deals with controlling and regulating the performance of
individual working in an organization. It helps in enabling two way communications
between the management and their employees. It guides the employees regarding the
banks goals and objectives. Performance management also motivates the employees
with the help of techniques like performance appraisal, job design, potential appraisal,
etc. Human resource management controls the activities involved in the process of
performance management and plays a vital role in implementing the plans related to
appraisals on the basis of performance so Performance management system has
become the backbone of any bank and also in competitive industries such as industry,
pharmacy etc. wherein increasing cut throat competition is new buzzword and
survival of the fittest has become the realities of the day.
94
depending on the objectives of the bank and the strategies banks designs to compete
in the market with other banks.
The details of various performance management practices adopted by ten banks are
given below.
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employees, Through Saath Aapka, the Bank has clearly articulated what employees
can expect from it. In line with this belief, the Bank has put in place several
initiatives that focus on leadership and talent development across grades”1. The Bank
has built a robust leadership bench not only at the senior management level but also
for all critical positions up to the middle management level and frontline roles in
sales, service & operations.
According to Walters (1995), “Performance management is about directing and
supporting employees to work as effectively and efficiency as possible in line with the
needs of the organisation.”2. Performance management system is very important part
of Human Resource Management. The main focus of Performance management is on
development aspects of individual and organization performance. It is a holistic and
discipline approach which includes planning, monitoring, developing, rating and
rewarding employee performance.
3.1.2 Performance Management practices in ICICI bank
In ICICI bank the performance appraisal is conducted annually by the Team managers
with the help of appraisal method such as Balance score card and Behavioural
anchored rating scale (BARS) and the report is sent to the HR Department in the
report the complete information about the target given, Target achieved by employees
and over all details about the employees mentioned and also the area in which their
employee seems to be lagging behind is also mentioned which help HR team to
recognize the area and provide them the training so that the employee does well
afterwards.
Training
The Bank continues to leverage its internal, role-linked and functional training
academies to provide the requisite knowledge and skills to employees and enhancing
the pool of suitable successors for critical roles. These academies provide banking
knowledge with a focus on practical application. The Branch Banking Academy
conducts the ‘Branch Leadership Programme’ to train and certify eligible employees
to assume leadership roles at branches. ‘Skill through Drill’, a 12-week audio-video
based Programme, is conducted for all branch employees to build skills in threshold
service behaviours through regular practice and role plays. The ‘STAR’ (Sales Talent
Acceleration and Recognition) Programme, which was launched last year, continues
to serve as a structured career progression plan for high performing sales personnel.
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Under this, high performing sales personnel are selected into the Probationary
Officers’ programme of the Bank. The STAR programme aims to inculcate strong
relationship skills in the frontline managers in line with the Bank’s philosophy of
Khayaal Aapka.
The Bank has launched the Young Leaders Programme (YLP) to provide a structured
career progression plan for high performing employees at the Assistant Manager
grade. This programme is a one year residential course (jointly offered with NMIMS,
a management institute in Mumbai) with six months of internship, which prepares
employees for critical positions like credit manager, wealth manager and in branch
banking roles. The industry-academia programs which include the Institute for
Finance, Banking & Insurance (IFBI) for entry level jobs in customer service and
operations for the banking and financial services sector, ICICI Bank Sales Academy
for frontline customer acquisition roles, ICICI Manipal Academy (IMA) for entry
level managerial roles and ICICI Business Leadership Programme for roles in risk
management, wholesale banking, treasury and IT, continue to provide pre-trained
skilled manpower for specialized roles in the Bank
These entire programs have significant focus on skill building through practice
sessions in classrooms as well as structured internship in the Bank’s branches and
offices. They provide inputs on the Bank’s products, norms, IT systems, service
philosophy and the regulatory guidelines, equipping the new employees with required
knowledge and skills even before they join the Bank. The various industry-academia
programs serve the twin objectives of acculturation and ensuring first day first hour
productivity of the new hires. The ‘young faculty immersion programme’, which the
Bank conducts for the faculty of ICICI Manipal Academy, also ensures that the
faculty is sufficiently imbued with the Bank’s culture and processes. ICICI Bank has
leveraged technology and used innovative methods to assist employees to serve the
customers effectively.
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The Bank has deployed games and simulation based trainings to develop service and
transaction processing skills in employees. Since the last few years, the Bank has
implemented several real-time performance support tools for employees through the
launch of ’Business Companion’ Such as smart phone/tab based performance support
tools for employees across business groups who are in the field and need real-time
access to critical product and process related information. Easy access to such
knowledge, while on the move, has helped relationship teams and operations groups
to reduce rework and deliver superior service to its customers.
Special Care about employees
ICICI Bank has liberal leave policies which are aligned to various life stage needs of
employees. Special holidays are given for adoption, childcare, fertility treatment and
maternity in addition to privilege leave, casual leave and sick leave. It has also
established a 24X7 emergency helpline to support employees and their family
members. The Bank has launched a Quick Response Team (QRT) to respond to
women employees if they are in distress while commuting. A QRT is a specially
equipped vehicle which is provided with a GPS, a stretcher and fire extinguishers
along with a team trained to deal with medical and personal safety related
emergencies. ICICI Bank believes in the philosophy of being a caring meritocracy.
The leaders in the Bank while being demanding on performance from colleagues are
also sensitised to be considerate towards the needs of team members. They should
support their team members during difficult times and invest in developing
capabilities within the team.
The table represents the growth shown by the bank in last ten years. In which all the
growth parameters are shown from the year 2004-14 i.e. for last ten years.
98
ICICI BANK KEY FINANCIAL INDICATORS: LAST
TEN YEARS
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Total 1,650. 2,305. 2,444. 2,183. 2,020. 2,256. 2,555. 2,926. 3,319. 3,615.
Deposits 83 10 31 48 17 02 00 14 14 63
Total 1,461. 1,958. 2,256. 2,183. 1,812. 2,163. 2,537. 2,902. 3,387` 3,875.
advances 63 66 16 11 06 66 28 49 03 22
Equity 222.0 243.1 464.7 495.3 516.1 550.9 604.0 667.0 732.1 804.2
capital & 6 3 1 3 8 1 5 6 3 9
revenue
Total 2,513. 3,446. 3,997. 3,793. 3,634. 4,062. 4,890. 5,367. 5,946. 6,461.
assets 89 58 95 01 00 34 69 95 42 29
Total 13.4% 11.7% 14.0% 15.5% 19.4% 19.5% 18.5% 18.7% 17.7% 17.0%
1 1 1 1 1 1 2 2
capital
adequancy
ratio
Net 39.07 56.37 73.04 83.67 81.14 90.17 107.3 138.6 164.7 190.4
interestinc 4 6 5 0
ome
Net 2.27% 2.19% 2.22% 2.43% 2.49% 2.64% 2.73% 3.11% 3.33% 3.48%
interest
margin
Profit after 25.40 31.10 41.58 37.58 40.25 51.51 64.65 83.25 98.10 111.7
tax 5
Earnings 6.50 6.97 7.88 6.75 7.23 9.05 11.22 14.44 17.00 19.32
per
share(Basi
c)2
Earnings 6.43 6.93 7.83 6.74 7.20 9.01 11.19 14.39 16.93 19.13
per
share(Dilut
ed)3
Return on 16.4% 13.4% 11.1% 7.7% 7.9% 9.6% 11.1% 12.9% 13.7% 14.3%
average
equity
Dividend 1.70 2.00 2.20 2.20 2.40 2.80 3.30 4.00 4.60 5.00
per share3
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1. Total capialadequancy ratio has been calculated as per Basel I framework
2. Total capital adequancy ratio has been calculated as per Basel II framework
3. During the year ended March31,2015, the shareholders of the bank have been
approved the sub division of each equity share having a face value of 10
into the equity share having a face value of 2 each through postal ballot on
November20, 2014. Per share information reflect the effect of sub-division for
each of the periods presented.
(Source:-file:///F:/report/iciciPercent20report/ICICI-Bank-Annual-report-
FY2015[1].pdf)
The HDFC Bank is on a high growth path in recent years. The Bank’s HR objectives
are derived from the Bank’s business strategy and objectives. The role of HR is to
facilitate the bank business growth through talent acquisition, development,
management and retention of employees for longer period of time. The Bank's
business performance and improved market positioning attracts quality talent
towards the Bank. The Bank is seen as a “preferred career destination” which is
exhibited by High quality professionals with proven track records willing to make a
long term career within the Bank, and higher employee life span, high offer
acceptance ratio, increased hires through employee referrals are positive indicators.
Virtually negligible attrition at leadership and strategic managerial layers,
supplements the belief that employees want to be a part of the HDFC bank’s journey.
HDFC bank hires quality manpower (leaders and achievers) to lead the Bank’s
business growth. The Bank use diversified hiring sources namely, Employee Referral
schemes, Job Portals, Placement Agencies, Campus Hiring and Tie-ups with
agencies to work on Hire-Train-Deploy model to identify and hire appropriate talent.
The Bank also employed assessment tests and multi-layered interview schedules to
recruit the right resources at right time for bank’s growth.
100
The HDFC Bank’s learning interventions aimed at equipping banks employees with
desired functional / behavioral competencies to enhance business success. Several
learning programs in areas of Performance Management, Leadership Development,
Managerial Effectiveness, Sales Processes, Communication and Negotiation Skills,
Banking Products and Operational Processes were conducted during the year. Bank’s
E-learning initiatives comprising online course modules and assessment tests offered
standardized and cost-effective learning solutions to the employees from time to time
People remain the most valuable asset of the bank, bank is professionally managed
with senior management personnel having rich experience and long tenure with the
HDFC Bank. Bank follows a policy of building strong teams of talented professionals
and encouraging, appreciates and facilitates long term careers. Bank continued to
build on its capabilities in getting the right talent to support different products and
taking effective steps to retain the talent. Given the Bank’s significant expansion in
terms products and business volumes, the Bank’s staffing-needs continued to increase
during the year particularly in the retail banking businesses. The Bank continues to
focus on training its employees on a continuing basis, both on the job and through
training programs conducted by internal and external faculty. The Bank has
consistently believed that broader employee ownership of its shares has a positive
impact on its performance and employee motivation. The Bank believes in
empowering its employees and constantly takes various measures to achieve this. “As
of 31 March 2013, the company has 69,065 employees, out of which 12,295 are
women (17.80 Percent)”.3“In June 2013, the company reported an annual attrition rate
of approx. 20 Percent”.4
101
(Source :- "Business Responsibility Report 2012-13" (PDF). HDFC Bank. Retrieved
27 November 2013)
Bank follows several employee engagement initiatives to connect and bond with
employees, understand employees problems and seek remedial. The Bank pursues
values of “Discipline and Compliance” to create an amiable workplace where
employees can actualize their potential. The Bank espouses an adherence to the Code
of Conduct, which clearly outlines the desired employee professional and personal
conduct. The Bank realizes the importance of its human capital in achieving its
business ambition in pursuance of the Bank’s growth imperatives. The bank’s HR
strategic agenda remains to delight employees by offering a fulfilling career, work-
102
life balance, market-linked compensation & employee development through several
benchmark HR practices.
Remuneration is linked to performance. Increments and variable pay are linked to the
annual performance rating. Annual Performance Rating for an employee is arrived
on the basis of tangible performance against pre–set Key Results Areas (KRAs) /
Goals set at the beginning of the Financial Year. The most important thing in HR is
to hold the confidence of people. Talent retention is a challenge today. Another
challenge is managing expectations of youngsters, who are looking for fast tracking
their career and want exposure quickly, they may not be lured by money alone, but
the profile that they work for. Bank gives ample opportunity to those who seek job
rotation, if they have a new opening, they advertise it internally. Banks philosophy is
that it is better to lose a person to another department than to another bank.
Their Performance management system is their 'signature' system. They have one of
the lowest rates of attrition. Middle management onwards their salaries are good.
Women have been rising up the ranks in the bank. At the junior level, over 33
Percent of the workforce in consumer and retail banking comprises of women. In the
senior levels, it is about 12 Percent and in the top management, it is about 6 to 9
Percent. The bank have started celebrating success.“ During the financial year 2012-
13, the bank incurred INR 42 billion on employee benefit expenses”5 .
103
improving organizational effectiveness, developing frontline leaders, promoting
employee empowerment and maintaining stability and sustainability amidst growth
and a rapidly changing business environment.
3.3.2 Performance Management practices in Axis Bank
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informal). In addition to performance, the personal development plan of an employee
includes a feedback on behavioural competencies for growth. The Bank has built a
learning infrastructure where the Learning Maps are aligned to the overall
development plan of employees and facilitate learning process across all levels
through a blended learning approach of classroom programmes, external programmes,
certification programmes as well as e-learning modules. The Bank’s online learning
management system ‘Axis Academy’ reaches out to the dispersed employee base in a
cost effective and timely manner.
The Bank promotes a healthy and safe work environment for its employees by
offering several health and wellness initiatives and campaigns throughout its network
for a positive health and safety culture. The Bank fosters work-life balance and
condemns any kind of unfair treatment in the workplace. Regulation and compliance
have remained as the major focus areas for the bank. The Bank enforces a strict
compliant and ethical culture with adequate channels for raising concerns supported
by a grievance handling mechanism. To foster a spirit of connectedness, the Bank
hosts several employee engagement programmes through online and offline channels
to connect its thinly-spread employee population across a widely dispersed network.
Through these platforms, employees can share their unique experiences, best practices
and cast their opinion and feedback about the Bank’s products and services.
A young workforce with an average age of 29 years and the Bank’s policy of being
an equal opportunity employer continues to significantly contribute towards
emergence of the Axis Bank brand. The Bank inspires everyone to excel and
contribute to, irrespective of gender, race or age, and this echoes in all HR initiatives
undertaken. The Bank continues to strive towards realisation of its vision of being the
preferred financial service provider excelling in customer delivery through insight,
empowered employees and smart use of technology.
The bank follows a balance Score card approach in designing its performance
management system. Appraisal is conducted annually and initiated by self-appraisal
of employees. The immediate supervisor reviews the appraisal ratings in a joint
consultation meeting with employees and assigns the performance ratings. The final
rating is discussed by a moderation committee comprising of senior officials of bank.
Both relative and absolute Individual performance is considered in moderation
105
process. Individual fixed pay increases, variable pay and ESOP are linked to the final
performance ratings. In addition the fixed pay increase is also influenced by an
employee’s position in the salary range. As on 31 March 2014, Axis Bank had 42,420
employees, out of which 7,117 employees were women (19 percent). ‘The average
age of an Axis Bank employee is 29 Years.”7 “The attrition rate in Axis Bank is
approx. 9 Percent per year”.8
Table No 3.1 Age profile of employees
(Source:- file:///F:/report/axisPercent20report/Annual-Report-2014[1].pdf)
106
(Source:- file:///F:/report/axisPercent20report/Annual-Report- 2014[1].pdf)
From the above Graph no it is clear that bank acquires talent from various educational streams which
helps in implementing strategic planning for objective achievements of Bank.
(Source:-file:///F/report/axisPercent20report/Annual-Report-014[1].pdf)
The above Graph no focuses on average age of employees in bank which is above 29 years i.e
the bank is enriched with young, innovative and talented employee which thinks beyond the
boundary line.
AXIS BANK KEY FINANCIAL INDICATORS 2005-2009
FINANCIAL 2004- 2005- 2006- 2007-2008 2008-2009 CAGR
HIGHLIGHTS 2005 2006 2007 (5years
107
Total Assets/ Liabilities 37,743.60 40,731.02 73,257.22 109,577.85 147,722.05 43.65%
(Source:-file:///F:/report/axisPercent20report/Annual-Report-2009[1].pdf)
108
AXIS BANK KEY FINANCIAL INDICATORS 2010-2014
109
CaoitalAdequancy 15.80% 12.65% 13.66% 17.00% 16.07%
Ratio / CAR
(Source:-file:///F:/report/axisPercent20report/Annual-Report-2014[1].pdf)
110
HR Department structure was suitably organized to meet the objectives such as
creating a framework to support the employees, motivate them and to conduct group
activities that create better synergy and to provide senior HR leadership support at
newly constituted networks.
“The total Human Capital of the Bank has increased to 10,059 by inducting 1,843 new
entrants in various positions. The average age of employees of bank is now 38 years
compared to 40 last year. The male female ratio of the Bank is 66:34 Percent”9.
(Source: file:///F:/report/federalPercent20report/AnnualPercent20ReportPercent202013-
14[1].pdf)
111
Business departments has ensured that appropriate decisions are taken with regard to
placement of the most valuable resource of the Bank.
During the year recruitment was conducted through various channels. This included
lateral hiring as well as campus recruitments. Various processes such as newspaper
advertisements, advertisements in job portals were utilized to make Federal Bank
visible as an ideal employer. You will be pleased to note that your Bank has entered
into a tie up with Manipal Global Education Services for a one year residential
programme, to mold a group of highly capable and job ready prospective workforce to
take on the various challenges in the Bank as bank leap into the future.
To assess employee performance and to foster employee growth and development, a
Performance Management System has been introduced. The Fed PMS online platform
was launched to make the process easier and more effective. Performance appraisal is
conducted half yearly and annually and feedback is given to employees about their
strengths and weaknesses. To overcome the weaknesses the training and learning
sessions are also planned for these employees.
“HR Road show titled Bodhi was conducted across the Bank to share the experience
of line managers in different facets of the HR Management, and inculcate in them the
leadership and responsibility”.10 The HR leadership interacted with the line managers
reiterating their role in leading their team and developing people capability.
Suggestions from the programme formed the base to redesign the established HR
policies and programmes.
An online platform titled HR Direct was launched to address HR-related queries
within a stipulated time frame. Another platform named ‘Managers Speak’ was also
rolled out for managers to express their feedback, suggestions and concerns to leaders
of the HR Department.
Training and Development was given ample thrust in line with the corporate
objectives. Training was imparted to 5541 employees on varied Banking,
Management and Information Technology subjects by Federal Knowledge and
Development Centre, the training institute of the Bank. In addition, 542 Officers/Staff
were nominated to training programmes conducted by reputed institutions like NIBM,
IIM, SIBSTC, IDRBT, CAB, NABARD etc. To strengthen the skill sets of the
officers posted at the newly introduced credit hubs, four special programmes on
“Credit Appraisal” were conducted by CRISIL at the Bank’s training institute which
was attended by 119 officials. As part of e-learning initiatives, the Bank conducted 38
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online quiz programmes for Officers/Clerks and 9517 persons including probationers
participated in the quizzes and 204 winners were awarded cash prizes.
On the learning front, primary focus during the fiscal was laid on induction
programmes. Induction programmes were conducted covering new recruits giving
them orientation in values and culture of the Bank and imparting knowledge in basics
of banking and customer service. A series of behavioural and functional programmes
were also conducted during the fiscal, empowering the Bank’s employees at different
levels with contemporary skill sets. Apart from these, a programme titled SPARSH, (a
personality development programme for the children of employees of the Bank) was
conducted for 98 children, in four batches. A programme titled FRAGRANCE
focused on personality development was conducted for the children of the Bank’s
customers. To foster individual development, Bank has started two clubs of the
Toastmasters International at the Corporate Office. The objective of the club is to
enhance communication and leadership skills of the member participants. The Bank is
also working on starting an assessment and development center with a view to
identify potential of the employees and drawing up individual development plans.
The industrial relations climate in the Bank during the fiscal stayed amicable and
issues were addressed and resolved through mutual discussions. The implementation
of progressive staff accountability started showing results through the creation of a
positive environment facilitating growth and development within the compliance
framework.
Mentoring is another area of the initiative of the Bank’s training institute. All
Probationers were allotted mentors on completion of induction The Bank is looking to
leap forward in terms of business growth, coverage and profit in the coming year. To
support this massive expansion, it needs the right kind of workforce. One that is
motivated and constantly committed to the organizational objectives. In an effort
towards achieving this, the HR Department launched a slew of fresh initiatives aimed
at awakening in each employee a sense of pride for being associated with the Bank.
As first ever exercise of its kind, the initiatives included;
Work-life balance resolution to improve productivity levels
Introduction of Sabbatical Leave
Employee Stock Option scheme to inculcate a sense of ownership in the
employee
113
Events like Federal Champions Cup, Federal Idol, Founder’s Day Celebration and
Women’s Day Celebration were also conducted to promote a feeling of togetherness
among the employees.
The focus on HR front was to instill in everyone a sense of belonging, a feeling of
oneness. HR department conducted a pan India workshop to highlight the importance
of having an effective Performance Management System in place. The other major
challenge was meeting the huge manpower requirements, brought about by the Bank’s
large scale expansion plans.
The Bank also took the radical step of decentralizing the HR functions and placed HR
officers at Regions. Several in-house and external training programmes were
conducted to develop the skill set of the people. Fed-e-HRM, an all-in-one HR
platform was launched.
114
(Source:-
file:///F:/report/federakPercent20report/AnnualPercent20ReportPercent202013-
14[1].pdf)
115
(Source:-
file:///F:/report/federakPercent20report/AnnualPercent20ReportPercent202013-
14[1].pdf)
116
3.5.1 Profile of ING Vysya bank
One of the key measures employed in assessing effectiveness of managing of human
capital is the Sustainable Engagement Index, which is a barometer of the bonding that
an employee demonstrates towards the bank. The Bank continued to improve its high
scores on this critical metric in the Winning Performance Culture survey, an annual
employee engagement initiative conducted globally by ING for all its group entities
by an independent organization Towers Watson. Based on the feedback on various
parameters last few years several actions were initiated which also contributed to the
improved Index Score. In the annual employee engagement survey conducted by
ING, we improved our scores in several parameters which impacts employee
engagement, productivity and morale. The Industrial Relations climate continued to
be constructive and positive. The bank conducts the appraisal yearly with using the
BARS performance appraisal system followed by self-appraisal of each employee.
3.5.2 Performance Management System practices in ING Vysya
bank
Trainings to up skill employees offered a structured approach and focused on
functional and behavioral skills. Learning interventions were focused on fresher’s as
well as lateral hires and programmes were designed to provide employees the skills
required to perform their roles and to progress into roles with higher accountability.
Development tracks were put into place to help internal progression into senior roles
within the Branch Banking network. Banks is also reinforcing the status of
compliance and standards as an important element of how we do our business and all
our trainings are focused to ensure that employees understand and meet their
responsibilities.
A series of functional specific programs were rolled out with internal subject matter
experts taking the lead in design and delivery. “Bank have also launched ING Young
Banker Program (IYBP), an initiative designed to prepare fresh graduates to join the
Bank as Customer Care Managers”11. ING Vysya Bank has tied up with Manipal
Global Education to create the ING Young Banker Program offering a Post Graduate
117
Diploma in Banking Operations and Finance (PGDBOF). It provides the selected
Young Bankers structured training in various aspects of Banking and Management
disciplines and overall development of personality. This is one of a series of
initiatives that bank taken towards strategic shift in the focus of Talent Acquisition
from “BUY” to the “MAKE” mode. The Bank has an institutionalized approach to
identifying a group of top performers with potential to become future leaders referred
to as a Talent Pool. These employees are categorized into three categories viz.: Young
Talents, Emerging Leadership Talents and Leadership Talents. Last few year saw a
high level of engagement for the junior pool of talents. There was increasing focus on
providing non training as well as training interventions. A key initiative in this area
was the Guest Auditor Programme delivered by the Internal Audit and Talent
Management departments together. “The talent management team launched a new
mobile learning application called Orange Owl for senior leaders which won an award
at the CLO Summit (Chief Learning Officer) organized by Tata Institute of Social
Science & Leapvault”12. The Leadership conference (for the top 150 Leaders of the
Bank) LEAP 2013 focused on Building Customer Experience across the bank.
In line with compliance & industry practice, during the year bank transitioned about
2,000 liability field sales executives on to the bank rolls. This exercise was completed
in a seamless manner post a structured eligibility process (performance and vintage)
with a supporting background verification process. Bank also reinitiated campus
recruitments in which 117 students were recruited from across 24 campuses in India.
Bank also strengthened talent pipeline in critical units. Additional employee benefits
like extended maternity leave and sabbatical leave were introduced. Women
employees’ maternity leave was extended to 4 months instead of 3 months provided
by the law. To recognize and address genuine employee concerns in line with the
supportive organization culture at IVBL, and to help bridge the gap between an
employee’s temporary limitation and his/ her long term aspirations, a sabbatical leave
policy was introduced. Bank launched several new training programs like Process
Guru, Go for Gold, Master Class, etc. The liability sales training got integrated with
the mainstream. A focused training program was introduced for branch heads and
branch operations head. On the talent and leadership development, multiple leadership
programs were conducted and leadership talents were provided with 360 degrees
feedback. Induction programme was introduced for the sales teams. Employees were
trained on Compliance, Product features and basics of selling skills. Rewards and
118
INGVYSYA BANK PROGRESS OVER DECADE
Year Depos Total Invest Gros Net Pai Rese Div No. No.of No.of
its Adva mens s- profi d rves i- of Branc Extensi
and nces earni ts up den Em hes on
accou ng Cap d(% plo Counte
nts ital ) yee rs
s
2004 12569 9080. 4195.8 1113 (38.1 22. 686. Nil 496 370 56
-05 .31 59 9 .25 8) 71 69 3
2005 13335 10231 4372.3 1412 9.06 90. 928. Nil 531 377 56
-06 .26 .53 4 .75 72 95 2
2006 15418 11976 4527.8 1595 88.9 90. 1012 6.5 534 400 40
-07 .59 .17 1 .69 1 90 .38 1
2007 20498 14649 6293.2 2099 156. 102 1433 15 585 407 39
-08 .06 .55 2 .01 93 .47 .18 2
2008 24889 16750 10495. 2787 188. 102 1600 20 622 455 37
-09 .92 .93 54 .56 78 .60 .29 7
2009 25865 18507 10472. 2853 242. 119 2210 25 624 482 13
-10 .30 .19 92 .11 22 .97 .95 9
2010 30194 23602 11058. 3349 318. 120 2503 30 704 511 13
-11 .25 .14 27 .02 65 .99 .30 1
2011 35195 28736 12715` 4526 456. 150 3829 40 100 531 10
-12 .42 `67 50 .65 30 .12 .67 01
2012 41333 31772 18278. 5588 612. 154 4471 55 975 546 10
-13 .00 .03 23 .46 96 .85 .06 8
2013 41216 35828 16720. 6072 657. 188 6882 60* 100 557** 10
-14 .77 `85 76 .34 85 .64 .18 59
** Includes nine Regional Clearing Centres (RCC) and five Asset Recovery (AR) Branches
119
(Source:- file:///F:/report/ingvysyaPercent20report/Annual_Report_2013-
14Percent20ingPercent20vysaya.pdf0
120
“The Bank has a well-established Staff Training College having state of the art
infrastructure facilities and expertise in conducting need based training
13
programmes” . Officers requiring specialized training are being deputed to Southern
India Banks’ Training College Bangalore, National Institute of Bank Management
(NIBM), Pune, College of Agriculture Banking (CAB), Pune and Institute for
Development and Research in Banking Technology (IDRBT), Hyderabad, State Bank
Staff College, Hyderabad etc.
The bank conducts performance appraisal of employees every year and depending
upon this appraisal the employee are rated according to their performance and target
achieved. Bank also guides the employee by giving feedback.
121
( Source:- file:///F:/report/karnatakPercent20report/Annual_Report_2014.pdf)
122
3.7. 1 Profile of YES Bank
At YES BANK, business excellence is drawn from the ability to consistently energize
and engage people and invest towards their professional and personal growth. This is
in line with bank’s ethos of Professional entrepreneurship, reflected in the ‘owner -
partner - manager’ philosophy.
YES BANK aims to build a culture and environment that supports Professional
entrepreneurship and is built on the core philosophy of Creating and Sharing Value.
The Bank has focused on attracting and retaining the best talent from the Financial
Services sector from India and also from abroad. The management talent at YES
BANK in a very short span of time is already considered to be amongst the best in the
Indian banking sector.
Bank focus on emerging as the ‘Professionals’ Bank of India’ helped create a
distinctive and consistent ‘YES BANK’ culture and experience across our rapidly
expanding pan-India branch footprint. Over the past 10 years, even as the Indian
economy experienced multiple cycles, we gained invaluable experience in managing
these cycles through organizational agility, tenacity and flexibility. One of our
learning’s was that irrespective of the business cycle, the management at all levels
needs the highest degree of confidence and conviction in business strategy and
execution along with the need to communicate this to stakeholders. YES BANK
continued to invest in training and multi-skilling across locations, functions,
businesses and engagement modes. Besides, the Bank introduced employee initiatives
that emphasized care, empathy, engagement and sensitivity, reinforced by a robust
owner-manager-partner approach. YES BANK continued to remain an employer of
choice at leading Indian business schools. Besides, bank hired a number of
experienced professionals from other private sector banks that strengthened retail
banking leadership. Bank continued to balance the recruitment of top and senior
management professionals at one end with middle, junior and general management
professionals at the other. The result of this investment in people was that the bank
created a robust workforce of around 8,800 employees in just 10 years.
123
3.7. 2 Performance Management System adopted by YES Bank
Bank pursued a strong employee value proposition of ‘Creating & Sharing Value’
with a vision to build an organization driven by the ethos of professional
entrepreneurship, with all YES bankers engaging, directing, managing and
accelerating development. The Human Capital engagement practices at bank were
targeted at developing the Bank’s brand as a ‘Preferred Employer of Choice’. The
Bank continued to attract and retain the best talent from within India and abroad.
Within a short time, your Bank’s management talent was regarded as one of the best
in the Indian banking sector, demonstrated by the several recognitions and awards
received over nine years. It institutionalized initiatives in the areas of executive
engagement, improving workplace health and wellness, learning and development.
Table no. 3.3 Qualification of employees and their percentage.
( Source:- file:///F:/report/yesPercent20report/yesPercent20bankPercent20annual
Percent20report Percent202011-12.pdf)
Bank’s robust performance, effective execution of strategy and the quality of our
management team have ensured several of our initiatives and product groups have
124
received external appreciation and acknowledgement, in the early stages of the Bank’s
development. “ Bank launched "YES FRIEND" program with a focus towards
engaging the high potential talent of employee and to integrate them culturally and
professionally into your Bank's ethos.”15 Orientation Sessions for all new entrants
have been organized at Delhi and Mumbai offices to imbibe the Bank's culture and
philosophy besides Sales & Service, Product and Process training for the Branch
teams. Bank's reward philosophy is aligned to the theme of creating ownership and
entrepreneurial accountability. Bank believes in rewarding outstanding performance
exceptionally where variable components such as the Bank's JESOPs schemes form a
significant constituent of rewards after a formal Performance Appraisal process.
Bank, open environment and free communication channels have been fostered across
all levels. Every employee has access to all members of the leadership team and to
discussion forums across levels, both formal and informal.
Bank does Performance Appraisal of employees Annually and Half Yearly and
depending upon that the results strictly their promotion increment in salaries are
depended and feedback is also communicated up to them so that they understand their
lagging points and so combinely the bank and employee tries to resolve their
problems by providing them proper counseling followed by appropriate training to
cope up in the working.
Table no. 3.4 Age profile of employees in years
120
(Source:- file:///F:/report/yesPercent20report/AnnualReport2013-14.pdf)
125
Bank has instituted Stock Option Plans to reward and retain employees and to enable
them to participate in your Bank’s future growth and financial success. The Stock
Option Schemes also enable the bank to hire the best talent for its senior management
and key positions. The Bank has five Employee Stock Option Schemes viz. Joining
Stock Option Plan I (JSOP I), Joining Employee Stock Option Plan II (JESOP II),
Joining Employee Stock Option Plan III (JESOP III), YBL ESOP (consisting of two
sub schemes JESOP IV / PESOP I) and YBL JESOP V / PESOP II (Consisting of
three sub schemes JESOP V / PESOP II/PESOP II-2010).
The Employee Stock Option Plans are administered by the Board Remuneration &
Human Capital Management Committee (earlier known as Board Remuneration
Committee) of the Bank some key features of Bank’s policies and practices are
illustrated below.
YES - WE CARE initiative
To instill the feeling among YES bankers that Bank cares about them, an initiative
was launched in December 2013 to enrich the life of employees around the special
moments in their lives.
a. Maternity leave was enhanced to 120 days from 90 days; all new mothers resuming
duties post maternity leave were presented with a gift voucher.
b. Paternity leave was enhanced to four days from two days.
c. One ‘Special Day Leave’ was introduced to be availed by the executive on his/her
birthday or marriage anniversary or birthday of immediate family members.
G.R.A.C.E.
Bank revised its Policy for Prevention of Sexual Harassment in line with the (The
Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act & Rules, 2013. With a view to create a robust framework for policy
dissemination, awareness and periodic reiteration, Bank launched the initiative called
’Say YES to G.R.A.C.E‘ (Gender Respect And Commitment to Equality) to connect
to a broader organizational value/belief in line with the stated objective to build the
‘Best Quality Bank of the World in India’ by 2020.
Self-Defense Workshop for Women
Your Bank partnered with Ms. Debi Steven, Founder, Action Breaks Silence, and a
world-renowned self-defense instructor. Ms. Steven possesses over 20 years of global
experience in teaching personal safety methods and self-defense.
126
Graph No 3.10 Number of employees in Yes Bank
(Source :- file:///F:/report/yesPercent20report/AnnualReport2013-14.pdf)
The workshop was interactive, providing insights into personal safety risks and
counter-initiatives. 193 women executives across Mumbai and Delhi were trained
over four sessions.
“The total employees of YES bank in year 2013-14 are 8322 out of which 1353 are
female employees approximately 16 Percent.”16
127
“During the year 2014 the Bank has recruited 241 officers and 1119 clerks. The cream
layer of these inductees include 117 MBA graduates, 52 Engineers, 30 Cost
Accountants, 15 Law graduates, 25 Agriculture Officers and 2 Security Officers.
Bank’s talent pool consists of 976 Postgraduates, 1170 Management Graduates, 647
Engineers, 90 Law Graduates, 91 Chartered Accountants, 51 Cost Accountants and 2
PhDs.”17
Graph no 3.11 Graph no showing Education qualification of South Indian Bank
(Source : file:///F:/report/southPercent20report/SIB_AR_2014_Final.pdf)
As on March 31, 2014, the Bank had 7,111 personnel on its rolls. Cadre wise break-
up is as under:
Table No. 3.5 Cadre wise personnel on its roll
Cadre Men Women Total
Officers 2363 1107 3470
Clerk 1425 1390 2815
Peon 480 30 510
Part time employees 80 236 316
Total 4348 2763 7111
Graph No 3.12 Graph no showing Cadre wise personnel on its roll
(Source : file:///F:/report/southPercent20report/SIB_AR_2014_Final.pdf)
128
Overall percentage of men is 63 percent and women is 37 percent. Infusion of young
personnel has brought down the average age of employees of the Bank to 34 years
The major talent acquisition initiatives of the Bank include local/general recruitments
and campus recruitments of clerks & and officers from Colleges/Business Schools all
over India. The Bank also employed assessment tests and multi-layered interview
schedules to recruit the right resources at right time for bank’s growth.
Remuneration is linked to performance. Increments and variable pay are linked to the
annual performance rating. Annual Performance Rating for an employee is arrived on
the basis of tangible performance against pre–set Key Results Areas (KRAs) / Goals
set at the beginning of the Financial Year
129
The Bank uses HRM software for maintenance of staff records known by “HRMSS”
(Human Resources Management Software Solution) System. This system helps to
access the personnel data by all the controlling offices and hence various reports
based on these data can be generated for the quick disposal of staff related matters. To
make HRMS more comprehensive, bank has introduced modules such as ID card,
Request Logging System, Online Annual Performance Appraisal of Officers. in
addition to the existing modules like Service Record, Transfers, Promotion,
Maintenance, HRA, Leave and Training etc.
The Bank's Staff Training College identifies the gaps in resource capability of the
personnel and train them for qualitative improvement. During the financial year, Bank
could provide training to 2647 of its Officers, 1200 clerks and 53 sub-staff in different
facets of Bank's operations. The development of employees is essential to the future
strength of our business. We have implemented a systematic approach to identifying,
developing and deploying talented employees to ensure an appropriate supply of high
caliber individuals. To motivate the employees further and to inculcate in them a
sense of ownership, Employees' Stock Option Scheme (ESOS) was approved by the
shareholders at the Annual General Meeting held on August 18, 2008.
Industrial relations in the Bank have been cordial and harmonious. The
representatives of Workmen Union, Officers Association and Management have been
working collectively achieving all-round growth making the Bank progressively
healthier. On account of cordial industrial relations, Bank has achieved considerable
growth over the years.
The Bank accords utmost importance to Human Resources Development. Training
Programmes are conducted at SIB Staff Training College (SIBSTC), Thrissur and at 9
Regional Training Centers (RTCs) at ROs for enhancement of professional skills of
the staff. The training programmes are designed to develop competency of operating
personnel while imbibing the SIB spirit and culture through an effective learning
process. The success of these programmes reflects on the enhanced Bank’s
productivity. SIBSTC and the RTCs identify gaps in skill of the personnel and
provide learning to them for qualitative improvement. During the year 2013-14, the
Bank has imparted training to 2,647 officers, 1,200 clerks and 53 sub staff in various
aspects of banking operations. Thus, the Bank has provided training to a total of 3,900
of its personnel, which is about 55 Percent of total staff strength of 7,111. This is in
consonance with the Bank’s vision towards continuous upgradation of skills to ensure
130
that the staff members meet the rising expectations of customers and discharge
services professionally covering the entire banking operations.
Motivational plans undertaken by the Bank in order to boost the morale of the Bank
employees are as under:
a) Promotions: The Bank is offering good opportunities to its employees. During the
financial year, 289 clerical staff was promoted to Scale I, 236 officers to Scale II and
164 Officers to various senior cadres.
b) Staff Welfare Scheme (SWS) 2013 was also implemented in the FY 2013-2014
offering job opportunities to the children of staff members in
officers/clerical/subordinate cadres.4 Probationary Officers, 16 Probationary Clerks
and 14Probationary Peons were selected under this scheme.
c) The bank had introduced SIB Ashwas a top up cover insurance scheme with ‘The
New India Assurance Co. Ltd. ‘for reimbursing the difference of the medical expenses
actually incurred by an employee/Officer for his/her treatment, less the amount
reimbursed under bank’s scheme in terms of national level settlement for
reimbursement of hospitalization expenses subject to certain limits, exclusion etc., in
terms of the Policy.
“Bank’s corporate magazine “SIBLINK” published every quarterly, has been
functioning as an internal PR tool in educating and motivating the staff for better
performance. Also “SIB Executive brief” a daily news update on banking Finance,
Economy, Industry, Market Rates etc. is being provided by SIB Staff Training
College which is e-mailed on a daily basis to Board members, to the executives and it
is also made available at SIB-Insight for access to all the staff members”18.
Overall South Indian bank implements the performance management system and
looks for overall development of employees by making them an integral important
member of bank.
The INDUSIND Bank is on a high growth path. The Bank’s HR objectives are
derived from the Bank’s business strategy and objectives. The role of HR is to
131
facilitate the bank business growth through talent acquisition, development,
management and retention. The Bank's business performance and improved market
positioning attracts quality talent to the bank.
INDUSIND bank hires quality manpower (leaders and achievers) to lead the Bank’s
business growth. The Bank uses diversified hiring sources namely, Employee Referral
schemes, Job Portals, Placement Agencies, Campus Hiring and Tie-ups with agencies
to work on Hire-Train-Deploy model to identify and hire appropriate talent. The Bank
also employed assessment tests and multi-layered interview schedules to recruit the
right resources at right time for bank’s growth.
In all its functions, human capital is the key resource that the bank creates, develops
and nurtures. The key objective of the human resource function is to ensure employee
satisfaction and retention by creating a performance enabling work culture within the
bank. The function focuses on recruitment, compensation, annual performance
appraisal, career planning, training and development and employee relations. “The
bank launched an employee referral scheme called ‘Indus parichay’. The scheme has
helped to recruit in a time-bound and cost efficient manner to build up a database of
potential candidates for future job openings ”19.
INDUSIND Bank conducted various training programs to equip the employees with
desired functional and behavioural skills. The focus was on
Induction programs to give the new joinees a perspective about the organizational
functioning,
Corporate and Retail products training to provide the employees with cross-selling
skills,
132
Process training on core banking system to give an overall knowledge on banking
operations, and
Soft skills training in the area of selling, negotiation, presentation and
communication to enhance the personal effectiveness.
The training delivery was managed by in-house as well as domain experts from the
industry. Employee welfare and employee grievance redressal are being strongly
emphasized upon and as a result, Bank has implemented Group Personal Accident
Insurance for all the employees to provide insurance coverage in case of unfortunate
death arising out of accidents. The existing group mediclaim insurance facility has
been expanded to provide coverage to the parents of employees
(Source:- file:///F:/report/indusPercent20report/AnnualReport_IndusindFullFinal.pdf)
133
The Human Resources (HR) function has moved towards creating an enabling work
culture, where employees are encouraged to actualize their potential. The Human
Capital is the key resource that the Bank seeks to develop and nurture for sustainable
business success in the marketplace. The Bank is fast becoming an ‘Employer-of-
Choice’ which is amply demonstrated by:
• Increased influx of quality professionals from reputed peer Indian / MNC banks and
large corporate.
• Fall in attrition levels over previous years, reinforcing the belief that employees now
want to make a long-term career with the Bank.
134
The INDUSIND Bank’s Compensation Policy is based on the philosophy of ‘Pay-for-
Performance’. Compensation policies of the Bank are completely aligned to the
regulatory compensation guidelines. The key objectives include benchmarking
employee compensation with market salaries for various job positions, paying for
“position, performance & person”, maintaining an optimal balance between fixed and
variable pay, building long-term employee ownership and association through
Employee Stock Options.
“The E-learning initiative was intensified and several online course modules and
assessment tests were launched nationally. “DEAL –Drop Everything And Learn”,
a self-learning initiative where branch Managers train the Branch employees on
several behavioural and functional aspects was launched and is running successfully
across the Bank.”21
The Bank also strived to develop better employee connect and bonding through
several employee engagement initiatives such as branch visits, one-on-one meetings,
get-togethers, movies and participation in sports events. The intent was to promote
empowerment, openness, cooperation and collaboration. The HR function’s entire
thrust was to partner Business Units to increase productivity, motivation and
commitment levels of employees. The future approach would continue to be on
135
enhancing the Bank’s human capital and building employee equity through
benchmark HR practices.
Other cause-related activities: The Bank has also been extensively associated with
cause-related socially responsible activities, e.g., working to help special need and
underprivileged children. The Bank has helped in promoting Indian art and culture by
patronising eminent musicians and dancers from across India. It has also taken
initiative to improve the overall health and wellbeing of the employees by providing
continual inputs on staying fit. Other such activities which the Bank was associated
with were employees participation in marathons, introduction of payroll scheme by
contributing a part of employees salaries, etc.
The Banking sector has been experiencing far reaching changes on account of
economic reforms, competition, customer expectations and technological
advancements. Human resource development is a critical element of the Bank’s
overall strategy for ensuring profitable and qualitative growth. The present day
banker needs to be customer oriented duly possessing the requisite skills, pragmatic
in approach, besides a good and quick decision maker.
The rapidly changing environment and the challenges it poses on the bank makes it
imperative to improve the skill sets of the employees. Accordingly bank accords top
priority to training and Human Resources Development initiatives. The Bank
conducts various training programmes through its dedicated training college. Further
the Bank’s quest to enhance the competencies of the workforce continued through
focused and need based trainings at various external training programmes organized
at various institutes of repute like NIBM, IDRBT, Institute of Public administration,
Indian Bank Management Academy for Growth & Excellence etc. The Bank has also
appointed IFBI for conducting induction training courses to new recruits at their
various centers. The Bank is also conducting knowledge updation test to its clerks
and officers at periodic intervals. Bank has also introduced e-learning process in its
136
intra-net website for its employees. During the year under report there were 3626
nominations for 251 programmes (both internal and external) in the category of
clerks, officers and executives. Bank has also revised HR Policies to suit the
changing banking scenario. KVB’s talent base as on 31.03.2014 stands at 7340 with
the induction of 1632 new entrants in various positions during the year. “The
average age of the employees of Bank is now 32 years.”22 Bank maintains cordial
industrial relations in an atmosphere of peace and harmony.
The bank laid considerable emphasis on upgrading the skills and knowledge of its
personnel during the year. The basic approach to training centered on identifying
priority areas, attuning the training process to the bank's corporate goal as also the
quality. The bank is imparting training to its employees both in house and at various
training institutions in specified and special areas such as Risk management,
Treasury management, Marketing, Information and Technology etc. Training courses
are being constantly redesigned to enable the employees to handle effectively all the
assignments, perform the assigned functions in the best manner in the highly
competitive technology oriented customer-driven environment.
During the year under report the bank has imparted training to 1999 employees both
under in house programmes and through external agencies. The Industrial relations
remained cordial. As a result of this, the bank has been able to show improved
performance year after year.
137
Bank has been making all efforts to train the staff on various aspects of banking
including the new initiatives. Regular training programmes are being conducted at the
Bank's training college and at reputed institutions. As a part of e-learning, a portal
was launched by the bank and manuals and circulars are being placed in the portal to
serve as a vehicle for providing education on different areas of banking. Special
emphasis was given to programmes like marketing of the bank's products, SME
finance, marketing of CASA and ancillary services.
“Lead Management Software has been launched across all branches for effective and
efficient management of sales management team. Introduced Career Development
System for all officer cadre employees across the Bank.” 23
The bank conducts the performance appraisals of employees annually and the rating
is given to employees which impact on their salaries. The higher ranked employee is
assigned with higher responsibility and the employees those are not able to achieve
the target that are assigned by the superiors are councelled for their improvement in
job with the help of training skills. This initiation taken by bank for overall
improvement of employee registered significant improvement in bank overall
performance of bank in last ten years which can be made clear with the following
figures shown below.
138
and evaluate and reward the personal effort all within the framework of how the
employee performance should be contributing to achieving organizations goal.
“(2011), Neeta Bhatla the paper concludes that organizations and employees share a
symbiotic relation, where both are dependent on each other to satisfy their needs and
goal. Therefore employee engagement should not be a onetime exercise, but a
continuous process of learning, improvement and action”29
The earlier study carried out on the performance management system in various
private and public organization, company’s in Other countries concludes “(2011),
140
Dong Chen ,Performance management system benefits the building of human
resource and plays an valuable role in process of achieving enterprise strategic
objectives”30. “(2005), Andrè O’ Callaghan An effective performance management
system is the center of an integrated HR System and the performance data feeds into a
variety of processes and systems”31. “(2012), David Creelman, in this Research paper
the author sought out stories where performance management really had worked well.
Cases where it had made a meaningful difference to the people involved and the
organizations they served ”32. “(2013), Mai Ngoc Khuong and Bui Diem Tien, The
findings of the study is indicated that the higher levels of satisfaction, supervisor
support, fringe benefits teamwork, working environment and training were positively
associated with higher level of organizational loyalty”33. “(2013), Masoodul Hassan,
Et al, Results of the study show that employee compensation is strongly correlated
with employee satisfaction which indicates that compensation is a vital factor for
generating satisfaction in employees of govt. owned public banks in Punjab. On the
other hand, employee empowerment is found to be strongly positive correlated with
employee loyalty which is an indication that how important employee perceives
empowerment to remain loyal to the organization.”34
From above study it is clear that the performance management system practices
adopted in various organization for overall development of employee and
organization also the employee productivity is increased and helps in retention of
employees for longer period .Which is beneficial for both organization as well as
employee also. No matter it is implemented in India or other countries the result
shown by implementation of performance management is similar in all aspects and it
act as an important tool for Human Resource Management and also for overall
development of the employees.
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